Allegheny Technologies idles plant
Allegheny Technologies Incorporated (ATI) has announced that Allegheny Ludlum's flat rolled finishing facility in West Leechburg, Pennsylvania will be idled indefinitely in order to cut costs.
ATI estimates that the idling, decided upon late last month, will result in annual cost reductions of roughly $10 million in its Flat Rolled Products segment, set to begin in 2007.
ATI also stated that it expects its fourth quarter 2005 net special gain to be between $14.5 and $19.5 million, or $0.14 to $0.19 per share.
All employees of the West Leechburg plant, including the nearly 45 hourly maintenance and
production workers, as well as 25 laboratory workers, will be assigned new positions at neighboring Allegheny Ludlum facilities.